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PB POST-
Colony Capital, a real estate investment and finance company that owns 3,100 homes in Florida, has reportedly issued the second-ever securitization of single-family homes following the lead of Wall Street giant Blackstone.
Colony, which owns about 60 homes in Palm Beach County, buys and rents properties under a relatively new business model that emerged following the housing market crash. The company’s rental arm is Colony American Homes.
Reuters reported yesterday that Colony began marketing its first bond backed by rental income from its homes. The so-called REO-to-rental or single-family rental bond, first emerged in November when the Blackstone Group securitized 3,500 of its homes nationwide into a $479.1 million bond.
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